Birmingham City FC has sold its women's club to its parent company, Knighthead Capital Management, for 51% share. The move was announced by the women's club on February 17. The acquisition will elevate the focus on the women's team and help it to deliver on the stated ambition for the club to compete at the highest levels in the women's game. Knighthead's commitment to women's sport in the city of Birmingham is also reflected in the acquisition. The 3% not under Knighthead's control has been purchased by prominent female business leaders and global professional sporting icons, including former footballer Karen Carney and former tennis player Kim Clijsters. The acquisition is part of a trend of women's clubs being sold to their parent companies, with Chelsea FC selling its women's club to parent company BlueCo 22 Midco for £200 million in June 2024, and Aston Villa transferring its women's team to parent company V Sports for about £55 million in February-March 2025. The Premier League's Profitability and Sustainability Rules (PSR) permit clubs to lose up to £15 million from core football operations with no input from ownership, but greater losses require secure funding through equity injections up to the £105 million cap. To breach the rules is to incur penalties such as point deductions, which affect a club's position in the league table. A club that sinks too far risks expulsion. Knighthead was founded in 2008 by Ara Cohen and Tom Wagner, and specializes in distressed credit, real-estate lending, insurance, private equity, and event-related assets.